On June 3rd, Kenbiya, a Japan property portal focusing on income property, released their May 2024 residential income property price trends report.
The report analyzes data on advertised (not transacted) prices and gross yields of residential real estate categorized as strata-title condominiums, wood-frame apartment buildings, and reinforced concrete (RC) multi-family buildings.
Note that the figures outlined below are nationwide averages and are meant to illustrate trends. The data in no way guarantees pricing or yields. Real estate is a hyper-local endeavor so always consult with a licensed real estate agent for your property specific needs.
Courtesy of Kenbiya, edited by Patience Realty
In May, the average advertised price of strata-title condos rose for the second consecutive month, reaching ¥20.3 million, a 4.64% increase from April.
The average gross yield also saw a slight increase of 0.06 percentage points, bringing it to 6.93%, indicating rents too are rising.
Wood frame apartment building prices climbed by 2.99% to ¥78.61 million. However, the gross yield for this category saw a decrease of 0.12 percentage points, falling to 8.07%.
Conversely, the price of RC multi-family buildings declined for the second month in a row, dropping by 0.22% to ¥179.09 million.
Despite the price drop, the gross yield improved marginally by 0.04 percentage points to 7.75%.
Further Reading:
Kenbiya May 2024 Residential Income Property Trend Report (Japanese only; more granular data available than the above nationwide data)
Source:
R.E. Port News (Japanese only)
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